Ann: Strategic Partnership with Pioneer Credit, page-15

You are absolutely spot on. I can't agree more of what you said. It is now mid May and from the information we have so far, RXH has cash which could only last till about Aug I reckon. I am surprised to find that there is still no action yet from RXH to get a CR started yet. Many might argue that the CR won't be much of a success but if RXH is a dead cat it will at least tried the final kick to save itself. By now if there is no info and they are still pushing for the universal credit system etc. I could only assumed that they are confident about the survival of their business or as you mentioned they are in the process in trying to be sold to a bigger player. It makes no sense at all if they have not taken any rescue move if they are concerned.